HD Korea Shipbuilding teams up with Woodside, MOL on liquefied hydrogen carrier

HD Korea Shipbuilding & Offshore Engineering, Hyundai Glovis, Woodside and MOL will collaborate to develop a marine transportation system for liquefied hydrogen.

A concept design of a large liquid hydrogen carrier to be developed by HD Korea Shipbuilding & Offshore Engineering, the shipbuilding holding company under HD Hyundai, before 2030 [HD HYUNDAI]

HD Korea Shipbuilding & Offshore Engineering (HD KSOE) and Hyundai Glovis signed a memorandum of understanding with an Australian energy firm and a Japanese shipper to develop a marine transportation system for liquid hydrogen, a lower-carbon energy source.

The agreement, which aims to develop a "safe and efficient" marine transportation system by 2030, was signed by Australian energy company Woodside, Korean logistics firm Hyundai Glovis and Japanese shipping firm Mitsui O.S.K. Lines (MOL), the subholding company of HD Hyundai said on Wednesday.

“Since 2022, we have been jointly studying the marine transportation of liquefied hydrogen with Woodside Energy and Hyundai Glovis based on energy export, import and ship operations,” HD KSOE said. “As MOL newly joins this agreement, we expect that the company’s experience in the transportation of liquefied natural gas will advance the current global hydrogen transportation solution to the next level.”

HD KSOE will develop a technical and commercially feasible large liquefied carrier by 2030. The company's expertise in hydrogen-powered ship technology has been highlighted by various milestones. It developed Korea's first hybrid engine using liquefied natural gas in 2022 and received Approval in Principle from DNV for a proprietary hydrogen system for large liquefied hydrogen carriers in 2023.

Woodside will be responsible for the business development of liquid hydrogen, while Hyundai Glovis and MOL will focus on key technology qualifications and studying the hydrogen shipping solution's operational feasibility.

“This collaboration will be important in many aspects as it will not only be a chance to develop technologies, but also to discover actual business opportunities going forward,” said Chang Kwang-pil, HD KSOE's senior executive vice president and chief technology officer.

BY SEO JI-EUN [seo.jieun1@joongang.co.kr]